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GRMN · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Garmin's revenue grew 11.4% to a record $2.02B, operating income rose 30.3% to $615.5M and net income 35.2% to $541.9M, lifting diluted EPS 35.3% to $2.80.
Net income
$542M
up 35.2% y/y
Net sales
$2,022M
up 11.4% y/y
Operating income
$616M
up 30.3% y/y
Gross profit
$1,262M
up 18.3% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $2,022 · +11.4% |
| Cost of goods sold | $760 · +1.7% |
| Gross profit | $1,262 · +18.3% · 62.4% margin |
| Research and development expense | $304 · +9.9% |
| Selling, general and administrative expenses | $343 · +7.7% |
| Operating income | $616 · +30.3% · 30.4% margin |
| Interest income | $38.2 · +20.3% |
| Foreign currency (losses) gains | $2.5 · −89.4% |
| Other (expense) income | $0.1 · −50.0% |
| Income before income taxes | $651 · +35.6% |
| Income tax provision | $109 · +37.4% · 16.8% effective rate |
| Net income | $542 · +35.2% · $2.80/sh · 26.8% margin |
Verdict: Garmin's revenue grew 11.4% to a record $2.02B, operating income rose 30.3% to $615.5M and net income 35.2% to $541.9M, lifting diluted EPS 35.3% to $2.80.
Source and notation
Source: GRMN press release, 8-K EX-99.1 of 07/29/2026 (SEC EDGAR).
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<figure> <a href="https://whoreportstoday.com/t/grmn/q2-2026"><img src="https://whoreportstoday.com/t/grmn/q2-2026/sankey.png" alt="GRMN Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/grmn/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/grmn/q2-2026">GRMN Q2 2026 earnings chart (Who Reports Today)</a>
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- Revenue from the outdoor segment decreased 2%, while gross and operating margins were 69% and 34%.
- Operating income was $616M (+30.3% y/y), an operating margin of 30.4% vs 26.0% a year ago.
- Gross profit of $1.26B is a gross margin of 62.4% vs 58.8% a year ago.
- Income tax of $109M implies an effective rate of 16.8% vs 16.5% a year ago.
- Diluted EPS was $2.80 vs $2.07 a year ago (+35.3%), while net income changed +35.2%.
What distorts the picture in this report and what to watch beyond the headlines.
GRMN — a maker of GPS-enabled devices and related services for people with an active lifestyle and for professional users, including smartwatches, outdoor handhelds, avionics, marine electronics and in-vehicle systems for carmakers.
It designs, makes and sells these products in five segments: fitness, outdoor, aviation, marine and auto OEM. · Source: annual report (Form 10-K, SEC)
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